Kenya to press ahead with Eurobond, undeterred by tapering

Reuters
Kenya's Cabinet Secretary of National Treasury (Finance Minister) Henry Rotich carries a briefcase containing the Government Budget for the 2013/14 fiscal year inside the parliament building in Nairobi, June 13, 2013. REUTERS/Noor Khamis

NAIROBI (Reuters) - Kenya is going ahead with plans to issue a debut Eurobond despite volatility in the markets following the onset of tapering of the economic stimulus programme in the United States, its finance minister said on Monday. "We have not seen major revision of interest rates globally and that is why we are working quite fast to ensure we complete the process as quickly as possible," Henry Rotich said. East Africa's biggest economy plans to borrow up to $2 billion from financial markets abroad, with marketing scheduled to start this month.